Zinc price fell slightly on February 9

According to the data monitoring of the Business News Agency, the zinc price was 23312 yuan/ton as of February 9, down by 0.72% from 23482 yuan/ton on February 8 of the previous trading day. Demand remained weak, and zinc prices fell on February 9.

Key points of zinc market

On February 8, LME zinc inventory was 19425 tons, with an increase of 3825 tons or 24.52%. The price of zinc in London fell overnight, and the increase in domestic zinc smelting output was realized, and the demand side was strong and the expectation was weak.

Aftermarket expectation

The supply is expected to increase, while the demand is still weak, and the zinc price is expected to fall in the future.

Zinc prices fell sharply this week

According to the data monitoring of Business News Agency, the zinc price was 23358 yuan/ton as of February 7, down 4.41% from 24436 yuan/ton on January 29 last weekend; The zinc price dropped by 4.16% compared with 24366 yuan/ton on February 1. Replenishment after the holiday was less than expected, and zinc market demand was weak, and zinc prices fell in shock this week.

Fed hawks remain

In an interview, the President of the Federal Reserve Bank of Atlanta said that if the better-than-expected economic situation continues, the interest rate this year will reach 5.1%, which is consistent with the median predicted by policy makers in December, and will remain at this level throughout 2024. He said that if the interest rate was raised by another 25 basis points on the basis of the current expected two interest rate increases, it might reach a higher peak, and he did not rule out the possibility of raising the interest rate by 50 basis points. The US dollar index rocked upward on February 6, hitting a four-week high. The Fed’s hawkish attitude remained unchanged. Commodity prices fell and zinc prices in London weakened. The domestic zinc market was negative.

Supply and demand of zinc market

With the end of the winter heating peak in Europe, the operating rate of zinc smelting in Europe is expected to rise, and the supply of international zinc market is expected to increase; The inventory of zinc ingots in the Shanghai futures market has increased significantly, and the domestic zinc market has sufficient supply. In the domestic zinc market, downstream customers mainly digest the early orders. The pressure of zinc ingot inventory accumulation is large, and the demand of zinc market is still weak.

Aftermarket forecast

According to the data analyst of Business News Agency, the US dollar index is strong and the international zinc price is falling; The supply of zinc in Europe is expected to increase at the end of the winter electricity peak; The domestic zinc market has sufficient supply and poor demand. The overall zinc market shows a trend of more supply and less demand. It is expected that the zinc price will fall slightly in the future.

According to the monitoring data of the Business News Agency, after the Spring Festival, the hydrogen peroxide market continued to fluctuate and fall. Before the festival, the average market price of hydrogen peroxide was 750 yuan/ton. On February 6, the average market price of hydrogen peroxide was 733 yuan/ton, down 2.22%.

The market of hydrogen peroxide fluctuated and fell after the bad end demand

After the Spring Festival, the overall recovery of the hydrogen peroxide terminal paper printing industry still needs some time. The demand for hydrogen peroxide is relatively low and the market is weak. The mainstream price of hydrogen peroxide in Shandong is about 570 yuan/ton, and the price has dropped by 30 yuan/ton; The mainstream price of hydrogen peroxide in Anhui is about 750 yuan/ton, and the market is stable. The mainstream price of hydrogen peroxide in Zhejiang is 1050 yuan/ton, and the market is stable.

Li Bing, an agricultural product analyst at the Business Society, believes that since February, the demand for terminal hydrogen peroxide has gradually recovered, and the hydrogen peroxide market is expected to stop falling and rising in the future.

The price of aluminum fluoride fell on February 1

According to the data of Business News Agency, as of February 1, the average price of domestic aluminum fluoride was 11325 yuan/ton, down 1.52% from 11500 yuan/ton on January 31. The cost fell and the price of aluminum fluoride fell.

The price of raw materials fell

According to the monitoring of the Business Agency, as of February 1, the price of fluorite was 3156.25 yuan/ton, down 0.59% from the price of 3175 yuan/ton on January 27; As of February 1, the price of hydrofluoric acid was 10000 yuan/ton, down 10.83% from 11214.29 yuan/ton on January 27. After the holiday, the price of fluorite, the raw material, dropped sharply, the price of hydrofluoric acid, the cost of aluminum fluoride, and the downward pressure on aluminum fluoride increased.

Market overview and forecast

According to the aluminum fluoride industry analyst of the Business Agency, the price of raw materials fluorite and hydrofluoric acid dropped sharply after the holiday, the cost of aluminum fluoride dropped, the pressure on aluminum fluoride to fall increased, and the price of aluminum fluoride fell in shock.

According to the bulk list data of Business News Agency, the average price of domestic industrial lithium hydroxide enterprises was 530000.00 yuan/ton as of January 30, down 4.22% from January 1.

The domestic lithium hydroxide market fell in January. In the first ten days, the supply side was mainly stable, and the export order performance was good, but the upstream lithium carbonate was weak, and the domestic demand side was flat, dragging the market mentality, and the focus of lithium hydroxide market negotiation was weak. In the middle of the year, the upstream lithium carbonate operated weakly, and the support for the lithium hydroxide market was weak. The domestic downstream purchase intention was not high, and the transaction was mainly just needed. In addition, the foreign demand was weakened, and the market mentality was insufficient. The focus of the lithium hydroxide market negotiation was downward. The Spring Festival holiday was approaching, the market transaction was limited, and the enterprise quotation was mainly stable. After the holiday, the market is gradually recovering, the wait-and-see atmosphere is strong, and the focus of negotiation is temporarily stable.

Upstream lithium carbonate, according to the data monitoring of the Business News Agency, the price of industrial and battery grade lithium carbonate showed a downward trend in January 2023. As of January 29, the average domestic mixed price of industrial grade lithium carbonate was 473600 yuan/ton, down 6.03% from the average price of 504000 yuan/ton on January 1.

According to the lithium hydroxide analyst of the business agency, the price of lithium carbonate in the upstream is mostly stable, and the impact on lithium hydroxide is not significant for the time being. The market is recovering, and wait-and-see is the main factor. It is expected that the domestic lithium hydroxide market will be stable in the short term, and more attention should be paid to the market news guidance.